Fila India plans store expansion

Sports lifestyle brand Fila India is all geared up to open 60-70 stores within the period of 3 years, mostly in metros and tier I cities by earmarking an investment of Rs 10 crore. The brand licence was bought about a year ago by Cravatex.

The company announced its first store at Linking Road in Mumbai within two weeks of time. These stores would spread in high streets and malls with average space coverage of 1,500 sq ft. Fila had already entered through a licensing agreement
with Mumbai-based Cravatex, which is also involved in distributing fitness equipment, in 2002. Currently, the brand is available at around 800 multi-branded outlets (MBOs) across the country. The stores will house a variety of apparels, footwear and accessories.

The sportswear market in India is pegged at Rs 2,500 crore. The segment itself is growing at 15-20% year-on-year. The company is expecting to earn revenue of Rs 125-150 crore by FY 2013 by targeting the youth audience within the price range between Rs 1,800 and Rs 3,500.